Data conversion services are gaining increasing prominence because of the various types of data the online world consumes. And the market is expected to boom in the future thanks to the increasing number of small and medium-sized enterprises and demand for the high quality of data.
One such company making its mark in data conversion is Talend. The Redwood City, California-based company is a leader in cloud data integration and data integrity. Its data fabric empowers organizations to operationalize their data, and its cloud-native orchestration platform helps organizations bring together all their data, wherever it may sit, to solve their most complex problems.
Talend’s Data Fabric software competes with products from such vendors as Informatica, Fivetran, and Matillion, as well as against software from major vendors like IBM and Oracle and cloud platform companies Amazon Web Services and Google.
In 2020, Talend was named as a leader in the 2020 Magic Quadrant for data integration tools by Gartner. Last month, the company announced financial results for the fourth quarter ending December 31, 2020, reporting total revenue of $78.9 million, up 17% year-over-year.
Over the past year, as organizations looked toward embracing digital transformation to attune to new trends induced by the global pandemic, Talend was also prompted to redesign its market strategy to offer better solutions to its customers and gear up to combine cloud with the data explosion. In line with this new-founded mission, it opened a second cloud data center in Europe, achieved AWS migration competency status, and made some significant changes in its top management.
On March 10, Talend announced it has agreed to be acquired by private equity firm, Thoma Bravo, for $2.4 billion, or $66 per share in cash. If the deal is approved, Talend will become a private company and will continue investing in its cloud transition as well as products and solutions that serve the evolving data needs of its customers. Talend went public in July 2016 at $18 a share.
According to its newly appointed CEO, Christal Bemont, this deal with Thoma Bravo will give Talend “additional capital, resources, and expertise” to leverage an immense market opportunity as more and more businesses are looking to become data driven.